EX-99.77B ACCT LTTR

                         REPORT OF INDEPENDENT AUDITORS


TO THE SHAREHOLDERS AND BOARD OF DIRECTORS
GENERAL AMERICAN INVESTORS COMPANY, INC.

In planning and  performing  our audit of the  financial  statements  of General
American  Investors  Company,  Inc. for the year ended  December 31, 2002,  we
considered its internal control,  including control  activities for safeguarding
securities,  in order to determine  our auditing  procedures  for the purpose of
expressing  our  opinion  on the  financial  statements  and to comply  with the
requirements of Form N-SAR, not to provide assurance on internal control.

The management of General American  Investors  Company, Inc. is  responsible for
establishing   and   maintaining    internal   control.   In   fulfilling   this
responsibility, estimates and judgments by management are required to assess the
expected  benefits and related costs of controls.  Generally,  controls that are
relevant to an audit  pertain to the entity's  objective of preparing  financial
statements for external  purposes that are fairly  presented in conformity  with
accounting  principles  generally accepted in the United States.  Those controls
include the  safeguarding of assets against  unauthorized  acquisition,  use, or
disposition.

Because of inherent  limitations in internal  control,  error or fraud may occur
and not be detected.  Also, projections of any evaluation of internal control to
future periods is subject to the risk that it may become  inadequate  because of
changes in conditions  or that the effectiveness of the design and operation may
deteriorate.

Our consideration of internal control would not necessarily disclose all matters
in  internal   control  that  might  be  material   weaknesses  under  standards
established  by the  American  Institute  of  Certified  Public  Accountants.  A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk  that  misstatements  caused  by error or fraud in  amounts  that  would be
material in relation to the financial statements being audited may occur and not
be  detected  within a timely  period  by  employees  in the  normal  course  of
performing  their assigned  functions.  However,  we noted no matters  involving
internal  control  and  its  operation,   including  controls  for  safeguarding
securities,  that we consider to be material  weaknesses  as defined above as of
December 31, 2002.

This report is intended solely for the information and use of management and the
Board  of  Directors  of  General  American  Investors  Company, Inc. and  the
Securities  and Exchange  Commission and is not intended to be and should not be
used by anyone other than these specified parties.

                                                               Ernst & Young LLP
                                                                January 14, 2003

EX-99.77Q3 CERT

Exhibit  77Q3:A

As of December 31, 2002, an evaluation was performed  under the  supervision and
with the  participation of the officers of General American  Investors  Company,
Inc. (the  "Company"),  including the principal  executive  officer  ("PEO") and
principal  financial  officer  ("PFO"),  of the  effectiveness  of the Company's
disclosure  controls and  procedures.  Based on that  evaluation,  the Company's
officers,  including the PEO and PFO,  concluded  that, as of December 31, 2002,
the Company's  disclosure controls and procedures were reasonably designed so as
to ensure that material information relating to the Company is made known to the
PEO and PFO.  There have been no significant  changes in the Company's  internal
controls or in other  factors that could  significantly  affect  these  controls
subsequent to the date of their  evaluation and until the filing of this report,
including any  corrective  actions with regard to significant  deficiencies  and
material weaknesses.

EX-99.77Q3 CERT

Exhibit 77Q3:B

I, Spencer Davidson, certify that:

1. I have  reviewed  this  report on Form  N-SAR of General  American  Investors
Company, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact  necessary to make the statements
made, in light of the  circumstances  under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial information included in this report, and
the financial  statements on which the financial  information  is based,  fairly
present in all material respects the financial condition, results of operations,
changes in net assets, and cash flows (if the financial  statements are required
to include a statement  of cash  flows) of the  registrant  as of, and for,  the
periods presented in this report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
rule 30a-2(c) under the Investment Company Act) for the registrant and have:

     (a)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities, particularly during the period in which this report is being
          prepared;

     (b)  evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this report (the "Evaluation Date"); and

     (c)  presented in this report our conclusions  about the  effectiveness  of
          the disclosure  controls and procedures  based on our evaluation as of
          the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
the  registrant's  board of  directors  (or persons  performing  the  equivalent
functions):

     (a)  all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,  summarize,  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     (b)  any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
report whether or not there were significant  changes in internal controls or in
other factors that could  significantly  affect internal controls  subsequent to
the date of our most recent  evaluation,  including any corrective  actions with
regard to significant deficiencies and material weaknesses.

Date:  February 12, 2003

/s/ Spencer Davidson
President and Chief Executive Officer

(principal executive officer)

EX-99.77Q3 CERT

Exhibit 77Q3:C

I, Eugene L. DeStaebler, Jr., certify that:

1. I have  reviewed  this  report on Form  N-SAR of General  American  Investors
Company, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact  necessary to make the statements
made, in light of the  circumstances  under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial information included in this report, and
the financial  statements on which the financial  information  is based,  fairly
present in all material respects the financial condition, results of operations,
changes in net assets, and cash flows (if the financial  statements are required
to include a statement  of cash  flows) of the  registrant  as of, and for,  the
periods presented in this report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
rule 30a-2(c) under the Investment Company Act) for the registrant and have:

     (a)  designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities, particularly during the period in which this report is being
          prepared;

     (b)  evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this report (the "Evaluation Date"); and

     (c)  presented in this report our conclusions  about the  effectiveness  of
          the disclosure  controls and procedures  based on our evaluation as of
          the Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
the  registrant's  board of  directors  (or persons  performing  the  equivalent
functions):

     (a)  all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,  summarize,  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     (b)  any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
report whether or not there were significant  changes in internal controls or in
other factors that could  significantly  affect internal controls  subsequent to
the date of our most recent  evaluation,  including any corrective  actions with
regard to significant deficiencies and material weaknesses.

Date:  February 12, 2003

/s/ Eugene L. DeStaebler, Jr.
Vice-President, Administration

(principal financial officer)